SouthState Corp. (Nasdaq: SSB) and Atlantic Capital Bancshares Inc. (Nasdaq: ACBI) are merging in a deal worth $542 million. The deal expands SouthState’s presence in Atlanta.

Atlantic Capital, based in Atlanta, Georgia, has approximately $3.8 billion in total assets, $3.3 billion in total deposits, and $2.3 billion in total loans as of June 30, 2021, and operates one branch in the Atlanta metro area and one branch in Athens, Georgia.

“SouthState’s larger capital base and broader range of capabilities will strengthen our client relationships and expand our new business opportunities,” says Atlantic Capital CEO Douglas Williams.

Raymond James & Associates Inc. and Davis Polk & Wardwell LLP are advising SouthState. J.P. Morgan Securities LLC, Sullivan & Cromwell LLP and Troutman Pepper Hamilton Sanders LLP are advising Atlantic Capital.